Ginkgo Bioworks (NYSE:DNA) Stock Price Down 4.4%

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) fell 4.4% during mid-day trading on Tuesday . The company traded as low as $0.29 and last traded at $0.29. 8,851,607 shares changed hands during trading, a decline of 78% from the average session volume of 40,652,789 shares. The stock had previously closed at $0.30.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DNA. Morgan Stanley lowered their price objective on Ginkgo Bioworks from $2.00 to $1.00 and set an “equal weight” rating for the company in a report on Wednesday, May 15th. The Goldman Sachs Group lowered their price objective on Ginkgo Bioworks from $0.80 to $0.30 and set a “sell” rating for the company in a report on Tuesday, July 9th. William Blair lowered Ginkgo Bioworks from a “market perform” rating to an “underperform” rating in a report on Friday, May 10th. Finally, BTIG Research lowered their target price on Ginkgo Bioworks from $0.50 to $0.20 and set a “sell” rating for the company in a report on Wednesday, June 26th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $1.40.

Ginkgo Bioworks Stock Down 5.3 %

The company has a 50-day moving average price of $0.40 and a 200-day moving average price of $0.86. The firm has a market capitalization of $635.96 million, a price-to-earnings ratio of -0.69 and a beta of 1.14.

Ginkgo Bioworks (NYSE:DNA) last released its earnings results on Thursday, May 9th. The company reported ($0.08) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.08). The firm had revenue of $37.94 million during the quarter, compared to the consensus estimate of $45.50 million. Ginkgo Bioworks had a negative return on equity of 56.09% and a negative net margin of 409.11%. During the same period in the prior year, the firm posted ($0.08) earnings per share. As a group, analysts forecast that Ginkgo Bioworks Holdings, Inc. will post -0.3 earnings per share for the current year.

Insider Buying and Selling at Ginkgo Bioworks

In other Ginkgo Bioworks news, Director Marijn E. Dekkers sold 265,000 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $0.83, for a total transaction of $219,950.00. Following the sale, the director now directly owns 5,515,364 shares of the company’s stock, valued at approximately $4,577,752.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Ginkgo Bioworks news, Director Harry Sloan acquired 297,619 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was purchased at an average cost of $0.91 per share, for a total transaction of $270,833.29. Following the completion of the acquisition, the director now owns 718,540 shares of the company’s stock, valued at approximately $653,871.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Marijn E. Dekkers sold 265,000 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $0.83, for a total transaction of $219,950.00. Following the completion of the sale, the director now owns 5,515,364 shares of the company’s stock, valued at $4,577,752.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 291,960 shares of company stock valued at $231,804. Corporate insiders own 15.05% of the company’s stock.

Institutional Investors Weigh In On Ginkgo Bioworks

A number of hedge funds have recently bought and sold shares of DNA. SG Americas Securities LLC boosted its holdings in Ginkgo Bioworks by 72.1% during the fourth quarter. SG Americas Securities LLC now owns 43,844 shares of the company’s stock valued at $74,000 after acquiring an additional 18,364 shares during the period. Prime Capital Investment Advisors LLC bought a new stake in shares of Ginkgo Bioworks in the fourth quarter valued at about $37,000. Cerity Partners LLC lifted its stake in shares of Ginkgo Bioworks by 5.3% in the fourth quarter. Cerity Partners LLC now owns 209,613 shares of the company’s stock valued at $354,000 after buying an additional 10,472 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of Ginkgo Bioworks by 32.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 62,943 shares of the company’s stock valued at $106,000 after buying an additional 15,396 shares during the period. Finally, Powell Investment Advisors LLC lifted its stake in shares of Ginkgo Bioworks by 100.0% in the fourth quarter. Powell Investment Advisors LLC now owns 45,000 shares of the company’s stock valued at $76,000 after buying an additional 22,500 shares during the period. 78.63% of the stock is currently owned by institutional investors.

About Ginkgo Bioworks

Ginkgo Bioworks Holdings, Inc, together with its subsidiaries, develops platform for cell programming in the United States. Its platform is used to program cells to enable biological production of products, such as novel therapeutics, food ingredients, and chemicals derived from petroleum. It serves pharma and biotech, agriculture, industrial and environment, food and nutrition, consumer and technology, and government and defense industries.